Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have made significant progress in their legal battle, with the SEC filing its final response in the remedial phase of the lawsuit. In its recent response to Ripple’s briefing on remedies, the SEC challenges Ripple’s assertion that the blockchain startup’s conduct was not reckless and that there should not be “widespread uncertainty” regarding the legal status of XRP, despite the court previously rejecting this “fair notice” defense.
Despite Ripple not violating any rules since the initiation of the XRP lawsuit in 2020, the SEC maintains its position on whether Ripple may engage in similar actions in the future. The SEC argues that Ripple’s promise to change its conduct after the lawsuit should not be a reason to avoid an injunction. According to the SEC, Ripple’s claim of following legal guidance and restructuring future XRP sales based on the lawsuit order is misleading. The SEC believes that Ripple misunderstands the order and fails to acknowledge its impact on compliance.
Tags:
Ripple
SEC
Source Link:
https://cointelegraph.com/news/sec-challenges-ripple-assertions-remedies-brief
Note: The views expressed in this article are solely those of the author and do not constitute investment advice.
Original Article Link:
https://www.bitpush.news/articles/6684877
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